Refund and Cancellation Policy

This Refund and Cancellation Policy provides general information about the treatment of cancellations and refunds. The specific terms governing any refund or cancellation are set out exclusively in the formal legal agreement signed between the parties, which takes precedence over the general information provided below.

1. General Principle

Because investments in Greenlands DRC involve the acquisition of property interests, construction, and agricultural commitments, refunds and cancellations are governed primarily by the specific terms of the formal agreement you sign. This policy provides general guidance and does not override or supersede the terms of any signed agreement. If there is any conflict between this policy and a signed agreement, the signed agreement prevails.

2. Reservation Deposits

The refundability of reservation deposits depends on the stage of the transaction and the terms specified in the reservation agreement. Typically, reservation deposits may be refundable, in whole or in part, during a specified cooling-off period if the member has not proceeded to sign a binding agreement, subject to deductions for administrative costs and third-party expenses already incurred. After the cooling-off period or upon signing a binding agreement, deposits may be non-refundable or subject to forfeiture as specified in the signed agreement. The exact terms are set out in the reservation agreement.

3. Cancellation After Signing a Binding Agreement

Cancellation of a binding agreement after signing is generally more restrictive. Once a binding sale, purchase, or membership agreement has been executed, cancellation rights and any refund entitlement are governed by the terms of that agreement and applicable law. Depending on the stage of construction and development, cancellation may result in the forfeiture of some or all amounts paid, as work already completed, materials procured, and commitments made on your behalf will have created costs that cannot be recovered. You should review the cancellation and refund terms in the binding agreement before signing.

4. Cancellation by Greenlands DRC

In certain circumstances, Greenlands DRC may need to cancel or modify a reservation or agreement, including where a condition precedent is not satisfied, legal or regulatory issues arise, or circumstances beyond our control occur. In such cases, the treatment of amounts paid and any compensation will be governed by the terms of the signed agreement and applicable law. We will act in good faith and in accordance with the agreement.

5. Force Majeure

Events beyond the reasonable control of either party, including natural disasters, war, civil unrest, epidemic, government action, and other force majeure events, may affect the ability to perform obligations under an agreement. The treatment of cancellations, refunds, and obligations in such circumstances is governed by the force majeure provisions of the signed agreement and applicable law. Force majeure events may result in delay, suspension, or modification of obligations rather than immediate refund.

6. Refund Process

Where a refund is due in accordance with the signed agreement, we will process the refund within a reasonable time, typically within 30 to 60 days, to the original payment method or as otherwise specified in the agreement. Refunds may be subject to deductions for costs already incurred, as specified in the agreement. Any refund is made at the exchange rate and in the currency specified in the agreement.

7. Independent Advice

Before signing any agreement, you should carefully review the refund and cancellation terms and obtain independent legal advice. You should ensure you understand the financial implications of cancellation at each stage and the conditions under which amounts paid may or may not be refunded.

This document is provided for informational purposes and does not constitute legal advice. Binding agreements and obligations are established solely by the formal legal documentation signed between the parties. In the event of any conflict, the signed legal documentation prevails. For any questions, contact legal@greenlandsdrc.com.